Rebuffing reports about the possibility that an Xbox 360 upgrade may likely be unveiled at the annual video game conference - the E3 Expo, which will be held in Los Angeles in June -, Microsoft said in a Monday statement that it currently has no plans to come out with a new Xbox gaming console anytime soon.

In its confirmation, Microsoft said that with the company having no imminent plans to launch the updated console; and added that it will not be discussing the new Xbox hardware at the E3 Expo. The company also revealed that, for the forthcoming video game conference, its key focus areas will include games, music and other entertainment for the existing Xbox 360 version which was released in 2005.

Nonetheless, expressing its gratitude towards the Xbox 360 fans who have shown their interest in the rumored upgraded console, Microsoft said in its statement: "While we appreciate all the interest in our long-range plans for the future, we can confirm that there will be no talk of new Xbox hardware at E3 or anytime soon."

The reports about the upgraded Xbox 360 started making rounds earlier this year when IGN said in one of its reports that `inside' sources had disclosed that Microsoft will launch its next-generation Xbox in November next year.

The IGN report also mentioned that the new Xbox will seemingly be six-fold more powerful than the existing model, which was the most popular console of 2011.